Armenian government intends to down income tax rates
13.04.2018,
11:21
The Armenian government decided Thursday to consider within ten days an initiative to down income tax rates and to expand taxation administration instruments in the country.
YEREVAN, April 13. /ARKA/. The Armenian government decided Thursday to consider within ten days an initiative to down income tax rates and to expand taxation administration instruments in the country.
“We stated a 7.5% economic growth and managed to overrun the fixed tax rates index in 2017,” Karen Karapetyan, acting prime minister, said at a regular Cabinet meeting.
“These developments enabled us to further strengthen the economic potential of our country, as well as implement such long-term and fundamental reforms as may have tangible benefits for the public at large. Preliminary estimates indicate that we have to take up the issue of reducing the income tax rate, since the reduced tax burden at the micro level will boost each employed citizen’s real income and, on the other hand, will enable employers to engage more qualified personnel with the same salary.”
At the same time, he said, the easing of the tax burden should be coupled with the use of improved tax administration tools in order to avoid tax evasion and ensure budget system stability.
Karen Karapetyan instructed the Acting Minister of Economic Development and Investments, the Minister of Finance, and the State Revenue Committee Chairman to sum up the findings of preliminary studies within a 10-day period and after holding joint discussions on the matter, submit proposals on income tax rates reduction and improvement of tax administration tools. --0---
“We stated a 7.5% economic growth and managed to overrun the fixed tax rates index in 2017,” Karen Karapetyan, acting prime minister, said at a regular Cabinet meeting.
“These developments enabled us to further strengthen the economic potential of our country, as well as implement such long-term and fundamental reforms as may have tangible benefits for the public at large. Preliminary estimates indicate that we have to take up the issue of reducing the income tax rate, since the reduced tax burden at the micro level will boost each employed citizen’s real income and, on the other hand, will enable employers to engage more qualified personnel with the same salary.”
At the same time, he said, the easing of the tax burden should be coupled with the use of improved tax administration tools in order to avoid tax evasion and ensure budget system stability.
Karen Karapetyan instructed the Acting Minister of Economic Development and Investments, the Minister of Finance, and the State Revenue Committee Chairman to sum up the findings of preliminary studies within a 10-day period and after holding joint discussions on the matter, submit proposals on income tax rates reduction and improvement of tax administration tools. --0---
